Bitcoin, Ether Soar To New All-Time Highs; $10,000 In Sight

The race between stocks and cryptos who can hit new all time highs and keep climbing without even bothering to look back, continued on Saturday, when the two biggest cryptocurrencies by market cap, bitcoin and ether, hit new all time highs, with Bitcoin breaking above the $8,300 resistance level around 0700 UTC, and hitting a high of $8,650 in early trading, up over 5% on the day, and rising at a pace that has put the $10,000 price target by both Mike Novogratz (and Jose Canseco) firmly in its sights.

Separately, ether also continues to set new highs, and two days after South Korea's regulator announced it had "no plan" to regulate cryptos, news which helped the crypto break out above its long-term range, and above its previous all time high, the native token of the ethereum project soared to $485.19 in overnight trading, morning, and is currently priced at $477, up 9% for the day and 37% for the last week.

Bitcoin started the year just above $1,000, and the YTD gain is now above 850%, which however pales in comparison to Ether's 5,000% YTD return.

The cryptocurrency’s market capitalization has reached $142 billion.

Finally, tired of being left behind, Litecoin has also joined the fray, and is up 12% in the past 12 hours, rising to $84, and fast approaching its own all time high of $100 set at the start of September.

The sharp gains come as the combined market capitalization for all cryptocurrencies also peaks at new highs – currently standing at over a quarter trillion dollars, or roughly $270 billion. Bitcoin's market cap is now over $142 billion, making it more valuable than corporations like Siemens, Mastercard or McDonald’s.

Comments

mcbond NoDecaf Sat, 11/25/2017 - 09:40 Permalink

Bitcoin: The Big Short?Bitcoin, Altcoins, Cryptos: If you're long, consider taking profits. A massive correction is likely coming.  "The Big Short Moment Approaches" There is a much-discussed in the crypto-sphere chart making rounds these days, plotting Bitcoin price dynamics against the historical bubbles of the past: http://www.btcpost.net/index.php/bitcoin-news/155-bitcoin-the-big-short

In reply to by NoDecaf

BaBaBouy MonetaryApostate Sat, 11/25/2017 - 10:25 Permalink

Check out the Blockchain related stocks. Thats where the action will be in the New Year and on.Could be similar to the Internet Run of the Early 2000's years.Eventually GOLD and Equities may be traded by Blockchain, No more RAMPANT SHORTING !!!Just one example, using audited depositories, blockchain can know who owns every single last Widget at any point in time.

In reply to by MonetaryApostate

Son of Captain Nemo BaBaBouy Sat, 11/25/2017 - 11:06 Permalink

"Eventually GOLD and Equities may be traded by Blockchain, No more RAMPANT SHORTING !!!"

And when that parity is reached BBB I'll intervene with hobnail boots!

But until crypto can be linked to every (physical ounce or fraction thereof of PM) within it's "blockchain" that is serial #'d and verified "PURE"... it' ain't even worth a "Tulip bulb"!

I need to identify who at the top of that pyramid with the printing press is jacking up the price of BTC that is also simultaneously the same one that is dumping $4 and $6 billion of notional paper on the commodities market(s) in PM!

Until that gets resolved?...

You'll be seein alot more of this happening at the RCM (http://www.zerohedge.com/news/2017-10-30/could-be-huge-gold-bar-certifi…) and "ELSEWHERE"!...

In reply to by BaBaBouy

Son of Captain Nemo BaBaBouy Sat, 11/25/2017 - 11:18 Permalink

The trouble is B there are too many flavors of blockchain out there and absolutely no enforcement with "rules"...

Until it's properly steered by an independent international forum it makes crypto very unpleasant and undesirable to ownership given what we already know about Mt. Gox/Wanna Cry and what is to come in terms of hazard(s)

Tip of the hat though on these sites

Thx

In reply to by BaBaBouy

Son of Captain Nemo ???ö? Sat, 11/25/2017 - 11:52 Permalink

Good points.

I have absolutely nothing against crypto and believe it is the future in terms of being a "medium of exchange"...

Just remember that your pals at DARPA created it and have plenty of "Slim Jims" and coat hangers with the auditors at the IRS to make certain YOU NEVER "lock yourself out of your ride" again...

Until there is an international engineering task force for crypto it simply doesn't exist to serve the interests as that quintessential MOE that the "little guy" can depend on any time and "any place"!

In reply to by ???ö?

Bumpo Son of Captain Nemo Sat, 11/25/2017 - 14:35 Permalink

Revealed here today for the first time:  Satoshi Nakamoto is DARPA! uhmBy the way, Bitcoin is not a "Medium of Exchange" .. at 21,000,000 bitcoins, its a store of value, and a collectors item. By the way, you better talk to Peter Theil and Marc Andreesen about whether the future lies in Blockchain. These rich-ass pioneers of the internet are fully invested.Here's a quick crash course:https://www.youtube.com/watch?v=C9CvHLn2xPUQuinn Michaels is either a madman or a genius, but he has a lot to say about Strong AI, blockchain, Vegas, Saudis, The Podesta Group, and the two powerhouses mentioned above.Here's some fascinating shit that gets closer to how all this connects. Quinn is obviously intellgent. Chilling insights, even if some speculation ...https://www.youtube.com/watch?v=Z1w4QHxOIvY

In reply to by Son of Captain Nemo

Son of Captain Nemo Bumpo Sat, 11/25/2017 - 16:35 Permalink

Well so much for basic economics micro and macro 101, as well as your IT knowledge...

All I can say is KEEP BUYIN Bumpo... Hope you, FreeShitter, tmosely and the original .gov troll "fonestar" get fabulously rich!...

Maybe you've got the right idea to go out with the "biggest bang"!

What the hell? We both know it's going to end bad either way!!!

In reply to by Bumpo

GUS100CORRINA JimmyJones Sat, 11/25/2017 - 11:20 Permalink

Bitcoin, Ether Soar To New All-Time Highs; $10,000 In SightMy response: Bitcoin and Ether performance looks to be justified because they are measuring the value of FIAT CURRENCIES. In my humble opinion, Bitcoin and Ether are doing exactly what GOLD and SILVER should be doing. The CENTRAL BANKS manipulated GOLD and SILVER to suppress price, but they can't as of yet control Bitcoin and Ether.Simply Amazing!!!The real scary thought is that since true value of fiat currencies are nearing "0", Bitcoin and Ether can goto infinity along with other real asset prices. Welcome to HYPERINFLATION.

In reply to by JimmyJones

Son of Captain Nemo hongdo Sat, 11/25/2017 - 13:02 Permalink

hong

If ANYONE in their right minds (at any age) looks at this as anything other than what it is -they should either take another pill and "shut up"... Or check out early before the carnage festival on the back of this thing commences...

I'm hoping that the stupid fucks that plowed too "deep" do the rest of us a favor with the latter!

In reply to by hongdo

vega113 mcbond Sat, 11/25/2017 - 11:33 Permalink

There's just one problem - the charts are goal seeked and incorrect. First of all, according to wikipedia tulip mania lasted for about 6 months, without any meaningful corrections. The chart itself looks entirely different. Same for all the rest bubbles. The bitcoin chart is cut of at about year 2014 even though in years 2009-2014 it already experienced explosions from 0 1$, from 1$ to 30$, from 30$ to 140$ and from 140$ to 1200$ and then huge correction to 200$. All these movements were just considered "insignificant" but in practice were cut of because didn't fit the pattern of the rest bubbles. Bitcoin is different from anything. The only chart that can be similar - is chart of price of gold during initial adoption. But we don't have such chart, as adoption wasn't uniform and lasted thousands of years.
Bitcoin is like gold, but only backed not by good but by a service.

In reply to by mcbond

IH8OBAMA tmosley Sat, 11/25/2017 - 11:15 Permalink

I like how you use the latest ZH hot term even if you don't know what it means.Follow the facts, tmosley.  Follow the facts.  The only thing you know is price and irrelevant fools gold stories.  It's gonna bite you big time, man.  Someone is going to yell "FIRE" in the movie theater called crypto and it'll be all over in a flash crash.  Just like the many penny stock markets that existed on hype so many times before. 

In reply to by tmosley

IH8OBAMA tmosley Sat, 11/25/2017 - 15:27 Permalink

Mine are better arguments than your non-appreciation of the facts that matter.Think about the fact that few if any cryptos have a value above zero.  Then relate that to various penny stock markets that soared for years on valueless stocks that eventually ran out of greater fools.  The comparisons are striking.  

In reply to by tmosley

affirmed_78 tmosley Sat, 11/25/2017 - 13:56 Permalink

Mosley, I could fork bitcoin tomorrow to a 16mb block size, which by your definition is better than BCH.  Forks are gonna happen all the time, at least as long as people are dumb enough to buy em.  Works for me, more bitcoin!  The forks simply cannot compete from a network effect  and developer standpoint.  

In reply to by tmosley

blentus tmosley Sat, 11/25/2017 - 11:37 Permalink

Nothing has changed, those fee will reappear during next panic again, exchanges are making things worse by charging insane fees too, and as long as people panic that's what will happen.However, such fees are not a rule but an exception, so I am really tired of hearing about that shit all day long.It is pretty obvious that 99.9% of BTC traffic has nothing to do with micro payments and similar things, so it is pointless saying that BTC is too expensive to pay for a coffee - when noone even thinks about using it to pay for a coffee, at least for now. BCH is supposed to be used for coffee payments, but noone is using BCH for such things either. It's way too early.I do not measure the value/future of a crypto currency by behavior of panicky 'traders' during times of uncertainty, the same way I don't measure the quality of a GSM network by its behavior during an earthquake or some other 'major event'.Just my opinion. YMMV and all that, of course.Strangely enough, I am so tired of BTC/BCH shit that I started liking LTC again, after reading up a bit on it (been away from it for years). Good features, decent/solid dev team, can actually be used for all kinds of 'value', has a decent track record - don't think it will take off, though. But I, surprinsgly, like it. Mostly because I do genuinely believe that such a project always needs some form of a 'leader'. I always keep coming back to Linus. Linux wouldn't exist if it was a free-for-all situation.

In reply to by tmosley